High Street
The latest news, updates and analysis on the the British High Street and UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Jan- 2023 -17 January
Quiz sales up 11% over Christmas
Quiz group sales increased by 11% to £9.8m for the Christmas trading period ending 31 December 2022. Sales growth over Christmas was driven by a 19% increase in revenues generated across the retailer’s UK stores to £6.2m, which reflects “strong” like-for-like growth on the sales generated in the prior year…
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16 January
Matalan rescue deal to wipe founder’s control of group
Matalan founder John Hargreaves is reportedly set to lose control of the group after its lenders finalised a rescue deal that eliminates his equity, despite the retail tycoon submitting his own takeover bid for the group. According to the Times, Matalan is set to announce that lenders Invesco, Man GLG,…
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13 January
N Brown sees Q3 sales slip 7.6%
N Brown has revealed its third quarter sales dropped by 7.6% to £249.2m in the 18 weeks to 31 December. Sales at heritage brands Ambrose Wilson, Home Essentials, Fashion World, Marisota, Oxendales and Premier Man dropped by 17.6%, while strategic brands Simply Be, JD Williams and Jacamo saw a 5.5%…
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12 January
Pepco Q1 revenues hit record €1.65bn
Pepco Group, the parent company of Poundland in the UK, has delivered record trading for the Christmas period as revenues hit €1.65bn (£1.4bn) for Q1 of FY23 ending 31 December 20222. As the group “outperformed” the wider market, its revenues for the first quarter represents year-on-year growth of 27%. The…
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11 January
ScS acquires Snugsofa.com out of administration
ScS has announced it has acquired the brand, domain names, website, intellectual property and stock of Snugsofa.com from the administrators of Snug Shack Limited for consideration of £875,000. Snug is a digital-first sofa and sofa-bed business specialising in modular and reconfigurable sofas. Snug was founded by Robert and Peter Bridgman…
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10 January
The Fragrance Shop reports ‘record sales’ amid 11% increase
The Fragrance Shop has announced that it saw an 11.2% increase in underlying sales in the six weeks ending 31 December 2022, compared with the same period the previous year. The company said the “record” sales performance was fuelled by popular new fragrance launches, such as Paradoxe by Prada, Fame…
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10 January
Card Factory ups FY guidance amid strong Xmas sales
Card Factory has raised its full-year guidance following a year of “good momentum” across the business, with sales boosted by a return to high street spending, particularly over the Christmas trading period. The group anticipates that EBITDA in FY23 will now be at least £106m, up from a previous guidance…
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9 January
Timpson rescues In-Time out of administration
Timpson has announced the acquisition of watch and jewellery repairer In-Time, which had collapsed in the days running up to Christmas. As part of the deal, the Manchester-based company has acquired 35 shops and taken on 110 new employees from In-Time. The value of the deal has yet to be…
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6 January
LCP Group acquires Gateway Retail Park
The LCP Group has announced it has acquired a Gateway Retail Park in Harwich, Essex – marking more than 20 retail acquisitions in 12 months. The group, which is part of M Core, the acquisitive commercial property collective that has invested more than £160m over 12 months in retail assets,…
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5 January
Wilko secures £40m in funding from Homebase owner
Wilko has reportedly secured £40m in funding from Hilco UK, the investor which owns both Homebase and Cath Kidston. According to the Financial Times, the details of the asset-based credit facility were filed with Companies House although they have yet to be fully disclosed. However, the outlet added it is…
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